Adani Australian coal project back on track with royalty deal

Adani Australia, part of the Ahmedabad-based Adani group, has reached an agreement with the Queensland provincial government on royalty payments to put the company’s $16.5-billion Carmichael coal project back on track.

The agreement, coming close on the heels of the State Cabinet’s approval, shows a “strong commitment” by the Queensland administration, a company release on Monday said. The board of the parent Adani group will consider the final investment decision at its next meeting.

“I thank the Premier, Annastacia Palaszczuk, and the elected members of the State for their continued support to make this happen. I also wish to thank Prime Minister Malcolm Turnbull and opposition leader Bill Shorten for their support for the changes to the Native Title Bill,” the statement quoted by Adani group chairman Gautam Adani.

Source – TOI

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